up january 1 if congress doesn't act. plus, another $500 billion in cuts at the pentagon. boeing, the military's second largest supplier, already announced a second round of executive layoffs. >> nobody wants to see this fiscal cliff without a deal because the cuts are severe and the tax increases are severe and so we've got to find a path forward. >> reporter: on capital hill leaders signalled compromise. >> compromise is not a dirty word. i want to work together, but i want everyone to also understand you can't push us around. >> i'm not suggesting we compromise on our principles, but i am suggesting that we commit ourselves to creating an atmosphere where we can seek common ground where it exists and seize it. >> reporter: post election, the same president, the same balance of power in congress and the same problems that divided a nation. >> you might remember before the election the president said he thought he could come up with a deficit deal within six months of being re-elected. lynn, now the clock is ticking. >> now we'll see. thanks so much, tracie. >>> let's go back to